WP SALES TAX DOLLARS DOWN $1 MILLION IN A MONTH. STILL 1/2% AHEAD OF 2015-16 PACE. COUNTY UP 1/2% WITH 2 MONTHS LEFT IN BUDGET YEAR

WPCNR QUILL & EYESHADE. From the New York State Department of Taxation and Finance. November 28, 2016:

The $4.9 Million September Sales Tax boom did sustain momentum in October for the City of White Plains. The retail pace fell to $3,982,450 compared to the $4.9 Million the city raked in in September.

The $3,982,450 October White Plains “handle” was $328,613 lower than the $4,311,063 generated in October, 2015 (a 7.6% decline, year to year for the month).

 White Plains, four  months into the city fiscal year 2016-17 is up ½% $16,787,530 to $16,690,601 coined in July, August, September and October in 2015.

Westchester County now going into  the last two months of its 2015 year is up ½% over 2015, $414,480,802. Should the County equal sales tax receipts of November and December of 2015, it will top $501,858,187, an all time record over 2015’s $499,527,981.

However, the county’s ambitious forecast of a 14% sales tax receipts increase was obviously way too high. 

The county has never had more than a 4% sales tax receipts increase in the years WPCNR has been observing county sales tax trends.

The county answer to the bungled forecast is to lease the Westchester County Airport to an independent operator and cover the $15 Million shortfall with an upfront payment from the airport operator. The County Legislature is dubious about this solution.

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